Malaysiakini News

Optimism on US-China trade talks keep Bursa on the positive

Bernama  |  Published:  |  Modified:

Shares on Bursa Malaysia remained positive at mid-morning alongside regional peers as renewed trade war optimism boosted investor sentiment.

At 11.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 7.99 points to 1,800.59 from Thursday's close of 1,792.60, after opening 2.04 points lower at 1,790.56.

Market breadth was positive as gainers led losers 392 to 230, with 328 counters unchanged, 937 untraded and 22 others suspended.

Turnover stood at 1.20 billion shares worth RM687.16 million.

Maybank Investment Bank said in a note that a stronger performance in the overnight US market was bolstered by optimism that the US and China will revive trade negotiations later this month, with the domestic market sentiment likely to improve further with second and third liners potentially stealing the spotlight today.

“Technically, we expect the FBMKLCI to trade between 1,760 and 1,800 today. Downside supports are 1,780 and 1,860, “ the bank said.

Gainers in the heavyweight counters were led by CIMB, gaining 10 sen to RM6.19, while Digi, rose 12 sen to RM4.76, RHB added 16 sen to RM5.53 and IHH went up seven sen to RM5.32.

Among actives, SapNRG added 4.5 sen to 49 sen, QES added two sen to 30.5 sen, VC advanced half-a-sen to 7.5 sen and PWorth climbed one sen to five sen.

The FBM Emas Index gained 65.10 points to 12,543.97, the FBMT 100 Index rose 57.4 points to 12,362.62 and the FBM Emas Shariah Index bagged 78.89 points to 12,644.38

The FBM Ace Index went up 56.48 points to 5,155.55 and the FBM 70 was 78.20 points higher at 14,805.45.

Sector-wise, the Finance Index increased 76.89 points to 17,886.89, the Industrial Index added 11.10 points to 3,211.93 and the Plantation Index was 32.39 points better at 7,521.94.

- Bernama

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